Big Mover

by | September 26, 2016 12:00 am



FCMB: +5%

FCMB stock rose 5 percent on Friday (Sept. 23), on large volume of 98.7 million shares that exchanged hands.

The stock now trades +54.41% above the 52 week low of N0.68 set on Mar 03, 2016.

Loss Before tax

ARM Life Plc: (N80.55 million)

The Insurance firm a subsidiary of Asset & Resource Management Company Ltd (ARM), made a loss before income tax of N80.55 million for the Half Year 2016 period ended June 2016.

Yield Action 

Falling

Nigeria sold N140.88 billion ($448 million) of short-dated treasury bills at an auction last week attracting lower yields across the board, data from the central bank showed.

The CBN sold N28.12 billion naira of the 3-month paper at 14 percent, the same as at the last auction on Sept. 14. It sold N23.68 billion of 6-month debt at 17.27 percent against 17.77 percent previously.

It sold N89.08 billion of 1-year bills at 18.30 percent compared with 18.48 percent at the previous auction.

Moving on

Nestle Nigeria MD

The Managing Director of Nestle Nigeria Plc, Dharnesh Gordhon has resigned his appointment as a Director and Managing Director of the Company with effect from 1st October 2016 due to his transfer to Nestle Indonesia.

The Board of Directors has appointed Mauricio Alarcon as the new Managing Director of Nestle Nigeria Plc with effect from 1 October 2016.